TaxCycle | Products | Pricing | Training | Documentation | Support | News

Default decimals in tapes

The last TaxCycle update seems to have reset the default number of decimal places in my tapes to zero. I can bump it back up to 2 decimal places in each tape, but I can’t remember where to set the DEFAULT to 2 decimal places. And, I can’t find it in the TaxCycle help/support. Searching for “decimals” or “default decimals” brings up several news articles, but no instructions where/how to change. Searching for “tapes” finds a page with instructions on “Tape (calculator)” including where to find tape settings in Options, but there is nothing about decimal places. So…

  1. Why did the default decimal places change?
  2. How do I fix it?

The tape will use the same number of decimal places as are shown in the field to which the tape is attached.

Is this is not the behaviour you are seeing, please provide more details and I will investigate…

Hi @Cameron,
The fields in question are on the T2 Rental Worksheet - rounded to the dollar (zero decimal places). Perhaps I was previously using tapes (mostly) on fields that had 2 decimal places (I’ll verify this later). Is there a way to set the number of decimal places for this worksheet? Or globally?

Given that CRA (mostly) rounds amounts anyway, is there a practical effect from the lack of tape-rounding? I’ve never seen CRA adjust small amounts other than to process the odd administrative adjustment to get rid of a couple of bucks difference.

Mostly, other than for CPP and EI amounts, I don’t bother on T1s or T2s at all anymore for manually entered amounts.

@SmallBizGuy
Just optics, I guess - I’m using the tapes on almost every cell on the Rental worksheet, to calculate a percentage of each expense on the income statement, and when I view the tape, I would like to see the percentage I used (i.e. “0.89”) rather than a 1.

THAT I totally understand!!

“1” isn’t too meaningful in that context…

Why wouldn’t you just set the Personal portion percentage to .89? Let the software do the math.
If it isn’t .89 for the entire statement, you can do it line by line in that column.

Debbie, this is in a T2, not a T1. The “rental worksheet” linked to S7 does not have a “personal portion”.

Sorry - missed that tidbit of info.